Arrowstreet Capital Limited Partnership Has $6.37 Million Stock Position in Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Arrowstreet Capital cut its Amphastar Pharmaceuticals position by 41.9% in the first quarter, selling 234,135 shares and retaining 325,291 shares valued at approximately $6.37 million.
• Institutional ownership remains significant at 65.09%, with Dimensional Fund Advisors, State Street, TD Asset Management and Marshall Wace among investors increasing their stakes.
• Analyst sentiment is cautious: the stock has a consensus “Reduce” rating and an average price target of $22. Amphastar recently reported quarterly EPS of $0.42, below the $0.70 analyst consensus, while shares opened at $19.94.

Arrowstreet Capital Limited Partnership lowered its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 41.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,291 shares of the company's stock after selling 234,135 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.74% of Amphastar Pharmaceuticals worth $6,372,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Amphastar Pharmaceuticals by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,027,947 shares of the company's stock valued at $39,726,000 after acquiring an additional 228,262 shares during the period. TD Asset Management Inc raised its position in shares of Amphastar Pharmaceuticals by 1.6% during the fourth quarter. TD Asset Management Inc now owns 1,963,052 shares of the company's stock worth $52,571,000 after purchasing an additional 31,160 shares during the period. State Street Corp raised its position in shares of Amphastar Pharmaceuticals by 2.1% during the fourth quarter. State Street Corp now owns 1,531,786 shares of the company's stock worth $41,021,000 after purchasing an additional 31,044 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,394,463 shares of the company's stock valued at $37,344,000 after purchasing an additional 40,536 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Amphastar Pharmaceuticals by 41.6% during the 4th quarter. Marshall Wace LLP now owns 1,237,284 shares of the company's stock valued at $33,134,000 after purchasing an additional 363,216 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMPH. Barclays cut their price target on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. Bank of America restated an "underperform" rating and set a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, July 8th. Finally, Zacks Research upgraded Amphastar Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $22.00.

Amphastar Pharmaceuticals Price Performance

Shares of AMPH opened at $19.94 on Monday. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The company's fifty day simple moving average is $19.54 and its 200 day simple moving average is $21.60. Amphastar Pharmaceuticals, Inc. has a 1-year low of $16.65 and a 1-year high of $31.26. The company has a market cap of $879.15 million, a price-to-earnings ratio of 12.01, a PEG ratio of 4.21 and a beta of 0.89.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.28). The firm had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. On average, research analysts forecast that Amphastar Pharmaceuticals, Inc. will post 2.25 earnings per share for the current fiscal year.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company's manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar's portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.

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